Skip Navigation

What's the premium for a 3Br/3BA apt?

Started by nyc166
almost 13 years ago
Posts: 40
Member since: Aug 2011
Discussion about
If a 3br/3ba apt is selling for $1,000/sq ft. What can a large junior 4 (half the size) be asking? Both are nicely renovated and in move in condition.
Response by Ottawanyc
almost 13 years ago
Posts: 842
Member since: Aug 2011

$925 or so.

Ignored comment. Unhide
Response by jason10006
almost 13 years ago
Posts: 5257
Member since: Jan 2009

It depends on the school district, actually. There is no real premium in areas with "bad" districts. A big one elswhere.

Ignored comment. Unhide
Response by nyc166
almost 13 years ago
Posts: 40
Member since: Aug 2011

I was looking at this building 200 East 74th Street. The price/sq ft seems all over the place depending on the size of the apt.

http://streeteasy.com/nyc/building/200-east-74-street-new_york

Ignored comment. Unhide
Response by NWT
almost 13 years ago
Posts: 6643
Member since: Sep 2008

See StreetEasy's Condo Listing snapshot, with its $-per-ft² ascending with size:

1,168 Studio
1,197 1
1,432 2
1,776 3
2,006 4+

You'll see the same pattern in any building, depending on location.

Ignored comment. Unhide
Response by w67thstreet
almost 13 years ago
Posts: 9003
Member since: Dec 2008

If you buy more than 1k share of apps. It'll cost IOU a 40% premium.

Ignored comment. Unhide
Response by angeloz
almost 13 years ago
Posts: 209
Member since: Apr 2009

call a local broker who has done some transactions in the area, get some real comps. They are free, and you can get a few comps from a few different brokers who know the building and area. Whatever you do, dont listen to any advice on this board, your description is very general as are the responses and it all looks wrong to me.

Ignored comment. Unhide
Response by 300_mercer
almost 13 years ago
Posts: 10663
Member since: Feb 2007

Nwt, I disagree with you for a change. Usually larger apts tend be in a much better condition and in better buildings which skews the per sq ft price for se listing average. Also, even within the same new development, premium space tends be larger apts. I would say, apples to apples, the price difference is probably half what the streeteasy condo snapshot shows.

Ignored comment. Unhide
Response by nyc166
almost 13 years ago
Posts: 40
Member since: Aug 2011

I wasn't looking for industry average, but rather price difference within the same building. I guess a large 3BR/3BA is rare compared to a large junior 4, so there could be a slight premium for the extra space. I've been looking at the current market price for junior 4 on the UES, they seem a bit low compared to larger size apartments in the same building.

Ignored comment. Unhide
Response by 300_mercer
almost 13 years ago
Posts: 10663
Member since: Feb 2007

15-20 percent assuming junior 4 has 1.5 bath is less than 850 sq ft, and can not be converted to 2 bed. If it is larger say 950 sq ft, and can be converted to 2 bed, 10 percent.

Ignored comment. Unhide

Add Your Comment

Most popular

  1. 16 Comments
  2. 11 Comments
  3. 20 Comments
  4. 13 Comments